Parliament approves sale of Safaricom government shares

The sale of 15 per cent government stake in Safaricom to Vodacom, valued at 204 billion shillings, has been approved. A report tabled by a joint parliamentary committee of Finance and Planning endorsed the proposed divestiture, on condition that the deal would not result in any job losses. The proceeds from the sale are expected to bolster the newly established National Infrastructure Fund kitty.